Adapting products and their marketing strategies in each of the national markets of a company to suit local preferences is called a ________ strategy.
A) multinational
B) blue ocean
C) global
D) retrenchment

Question

Quizplus · Accepted Answer

A multinational strategy involves adapting products and marketing strategies to suit the preferences of each national market. This approach recognizes that consumer preferences and cultural differences vary from country to country, and therefore requires customization of products, messaging, and distribution channels. This is in contrast to a global strategy, which focuses on standardized products and marketing approaches across all markets, or a retrenchment strategy, which involves scaling back operations in certain markets. A blue ocean strategy, on the other hand, refers to creating new markets or industries where competition is not yet present.

Adapting Products and Their Marketing Strategies in Each of the National